Digital Turbine, Inc. (NASDAQ:APPS) Sees Large Growth in Short Interest

Digital Turbine, Inc. (NASDAQ:APPS) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 6,560,000 shares, a growth of 19.9% from the March 31st total of 5,470,000 shares. Based on an average daily volume of 2,760,000 shares, the short-interest ratio is currently 2.4 days. Approximately 7.2% of the company’s stock are sold short.

Digital Turbine Stock Performance

NASDAQ:APPS remained flat at $1.82 during trading hours on Friday. 867,100 shares of the company’s stock were exchanged, compared to its average volume of 1,703,408. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.07 and a current ratio of 1.07. Digital Turbine has a fifty-two week low of $1.78 and a fifty-two week high of $14.61. The stock has a market cap of $185.68 million, a price-to-earnings ratio of -0.92, a price-to-earnings-growth ratio of 4.47 and a beta of 2.48. The company’s 50 day simple moving average is $2.60 and its 200 day simple moving average is $4.49.

Digital Turbine (NASDAQ:APPS) last posted its earnings results on Wednesday, February 7th. The software maker reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Digital Turbine had a positive return on equity of 4.48% and a negative net margin of 34.53%. The company had revenue of $142.63 million during the quarter, compared to the consensus estimate of $146.45 million. On average, analysts forecast that Digital Turbine will post 0.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Roth Mkm lowered their target price on shares of Digital Turbine from $5.50 to $4.50 and set a “neutral” rating for the company in a report on Thursday, February 8th. StockNews.com downgraded shares of Digital Turbine from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Finally, Craig Hallum reduced their price target on shares of Digital Turbine from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Digital Turbine currently has an average rating of “Hold” and a consensus price target of $7.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Pineridge Advisors LLC purchased a new position in shares of Digital Turbine during the 4th quarter valued at $34,000. GAMMA Investing LLC purchased a new position in shares of Digital Turbine during the 4th quarter valued at $43,000. New Mexico Educational Retirement Board purchased a new position in shares of Digital Turbine during the 1st quarter valued at $47,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Digital Turbine during the 1st quarter valued at $55,000. Finally, Blue Trust Inc. lifted its stake in shares of Digital Turbine by 87.6% during the 4th quarter. Blue Trust Inc. now owns 9,093 shares of the software maker’s stock valued at $62,000 after buying an additional 4,245 shares in the last quarter. Hedge funds and other institutional investors own 63.66% of the company’s stock.

Digital Turbine Company Profile

Digital Turbine, Inc, through its subsidiaries, operates a mobile growth platform for advertisers, publishers, carriers, and device original equipment manufacturers (OEMs). The company operates through two segments, On Device Solutions and App Growth Platform. Its application media platform delivers mobile applications to various publishers, carriers, OEMs, and devices; and content media platform offers news, weather, sports, and other content, as well as programmatic advertising and media content delivery services, and sponsored and editorial content media.